# @travelingtoretirement on Instagram

- **Type:** Video
- **Original URL:** https://www.instagram.com/p/DGth4Vkzv8e
- **Gondola URL:** https://gondola.cc/posts/63267725-travelingtoretirement-instagram
- **Thumbnail:** https://img.gondola.cc/tr:w-,h-,fo-auto/postThumbnails/4b73fb0f6d.jpg
- **Posted:** 2025-03-02T21:10:22.000+00:00
- **Account Owner:** Mel⎢Personal Finance (@travelingtoretirement) — https://gondola.cc/travelingtoretirement

## Caption

DEETS for US content creators and other self employed/side hustle peeps 👇🏽 

I love my solo 401(k)! A lot of people scoff at tax advantaged accounts and immediately want to invest in a taxable brokerage accounts first because of the flexibility. But my 401(k) is a large piece of my early retirement withdrawal strategy. As a self-employed person, the Solo 401(k) is a game-changer for tax advantages and wealth-building. I contribute as both the employee and employer to maximize my retirement savings.

***DISCLAIMERS***

I am just a girl trying to retire in my 30s and sharing what I do personally in my early retirement journey. Please do your OWN research and speak to your CPA or financial professional about your particular situation. This is for informational purposes only and is NOT financial advice. 

FAQs:

❓ Why are you investing in the total stock market index fund ?
📌 Mostly for diversification purposes! There is a lot of overlap between the S&P 500 and and the total stock market fund. S&P 500 tracks the 500 largest US companies which is amazing but this only includes large cap stocks. The total stock market fund includes ALL publicly traded US stocks, approximately ~4,000 companies.

❓ Who can open a Solo 401(k)?
📌 Anyone with self-employment income and no full-time employees (except a spouse).

❓ How much can I contribute?
📌 For 2025, you can contribute:

Employee side: Up to $23,500 (or $31,000 if 50+)
Employer side: Up to 25% of net earnings (20% if sole proprietor) 
TOTAL max: $70,000 (or $77,500 if 50+)

❓ Why not just use a Roth IRA or SEP IRA?
📌 A Solo 401(k) allows for much higher contributions than an IRA. 

❓ Do I need an LLC to open one?
📌 Nope! You do need self-employment income, even from side gigs.

❓ Where can I open a Solo 401(k)?

📌 Popular options include Fidelity, Charles Schwab, and E*TRADE. Each has different features (like Roth options or easier admin).
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Investing for Beginners, Personal Finance, Entrepreneur, Solo 401(k), Full-Time Content Creators
#financialindependence #investing #invest #girlswhoinvest #401k #selfemployed #personalfinance #retireearly #retirement

## Stats

- **Views:** 24,116
- **Likes:** 1,034
- **Shares:** 0
- **Comments:** 45

## Tags

investing, invest, selfemployed, retirement, personalfinance, retireearly, 401k, girlswhoinvest, financialindependence

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